Honda net profit up 58 per cent

Honda’s net profit for the third quarter was up 58 per cent to 137.36 billion Yen (1.08 bn Euro).

The main reasons were strong sales of the Accord in China and the USA, plus good US sales of the Pilot and Element SUVs. Operating profit was down slightly at 151.69 billion Yen (1.

2 bn Euro), compared with 153.05 billion Yen for the same period last year. Despite the good figures, Honda says that full year revenue will probably be lower than forecast, due to unfavourable currency movements and continued low sales in Japan.